Market Reaction: Slightly positive on strong cashflow. Excluding working capital movement, net cashflow from operations would have been US$97.7 mm (FCCe: US$85.0 mm). Cost reduction, upcoming start-up of Alma Galia and re-iterated FY15 production guidance are also good news. The story remains extremely sensitive to oil price movements. EnQuest produced 29,665 boe/d over the period (FCCe: 30.7 mboe/d) and generated US$70.7 mm net cashflow from operating activities (FCCe: US$63 mm).
19 Aug 2015
SOLID 1H15 RESULTS
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SOLID 1H15 RESULTS
EnQuest PLC (ENQ:LON) | 14.1 0 0.0% | Mkt Cap: 269.7m
- Published:
19 Aug 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly positive on strong cashflow. Excluding working capital movement, net cashflow from operations would have been US$97.7 mm (FCCe: US$85.0 mm). Cost reduction, upcoming start-up of Alma Galia and re-iterated FY15 production guidance are also good news. The story remains extremely sensitive to oil price movements. EnQuest produced 29,665 boe/d over the period (FCCe: 30.7 mboe/d) and generated US$70.7 mm net cashflow from operating activities (FCCe: US$63 mm).